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Key microeconomic - Essay Example

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The two key microeconomics concepts that are going to be presented to the board of directors of CPI are competition and pricing. CPI has done well over the years due to the quality of the products the firm offers. The plan of the firm of expanding the operation beyond its current markets in order to achieve growth has a lot of potential…
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Key microeconomic

Download file to see previous pages... CPI should not pose a threat to firms such as Proctor and Gamble. The firm can be position in a segment of the market where it would not have to compete directly with the market leaders. The best way to achieve that goal is by implementing a differentiation strategy. A variable that can help the company achieve a differentiation strategy is the quality of its products. A second important economic variable that CPI has to consider is pricing. The pricing strategy is very important because price determines the ability of a company to achieve superior profits. Products that are underpriced may sell well but its overall effect in the profitability of a company is not optimum. CPI has to study the market prices of all the products it sells. In a pricing study the firm should analyze the market price of each product in the US, internationally and online. Selling the products at a premium price can help the firm differentiate from low cost producers. The price structure of the company should be sufficient to pay off for all variable and fixed cost while at the same time leaving a hefty surplus of profits. The profit margin of the enterprise should be equal or better than the industry average. ...Download file to see next pagesRead More
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